Fernando Haddad, Brazil's Minister of Finance, confirmed on Tuesday that he will step down from his position next week, setting the stage for Dario Durigan, the executive secretary of the ministry, to take over his responsibilities. Haddad's departure is aligned with the upcoming electoral cycle, as Brazilian legislation requires ministers who wish to run for office to resign their positions six months before the elections, which are scheduled for early April this year.

Amidst discussions about his future, Haddad indicated that conversations are ongoing regarding his potential candidacy in the elections. He emphasized the importance of carefully selecting a slate of candidates to accompany him, taking into account the strategic aspects of the political landscape. Haddad's involvement in the electoral race is significant as he has been seen as a key figure within President Lula's administration, and his decisions regarding this candidacy could influence the upcoming elections.

Political commentators, such as Ana Flor from GloboNews, noted that Haddad has shown some initial hesitance about stepping into the electoral arena. However, there is speculation that he might ultimately acquiesce to President Lula's wishes to participate in the race for the Palácio dos Bandeirantes against the current governor, Tarcísio de Freitas. Haddad's decision will be crucial not only for his political career but also for the dynamics of the election in São Paulo State.